The European Union and Japan have concluded the EU-Japan Economic Partnership Agreement, the largest trade deal ever achieved by the bloc, which will cover almost a third of global GDP, according to the European Commission.

The European Council’s President Donald Tusk stated that the trade agreement sealed by Brussels and Tokyo sends a “clear message” against protectionism.

“Together we are making — by signing this agreement — a statement about free and fair trade, we are showing that we are stronger and better off when we work together,” he added.

The trade deal was signed earlier in the day at the 25th EU-Japan summit by Japanese Prime Minister Shinzo Abe, European Commission President Jean-Claude Juncker and European Council President Donald Tusk. The accord was due to be signed last week during the EU-Japan meeting in Brussels; however, the summit was canceled because of the deadly flooding in Japan.

Source: AFP